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November 21, 2024 Rain | 46°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part I ADMINISTRATION OF THE GOVERNMENT
  3. Title XV REGULATION OF TRADE
  4. Chapter 106 UNIFORM COMMERCIAL CODE
  5. Article 7 DOCUMENTS OF TITLE
  6. Section 7-508 Warranties Of Collecting Bank As To Documents Of Title

Section 7-508

Section 7-508: Warranties Of Collecting Bank As To Documents Of Title

Section 7–508. A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft or other claim against delivery of documents warrants by the delivery of the documents only its own good faith and authority even if the collecting bank or other intermediary has purchased or made advances against the claim or draft to be collected.